BC LIFE
Saved by @SteveeRogerr

THREAD:

Wealth tips for founders & early employees...

• Secondaries
• Tax benefits
• Hiring a CPA / Financial Advisor
• Diversifying
• Tools I use
• and more...

 Create a plan for your options early:

Think of this as investing in your company. If your company fails, your options will be worthless.

If your company does well, exercising too late will be costly.
Secondaries:

Secondary transactions typically first occur at the Series B [although if your numbers are up and to the right & there's demand for allocation -- it can happen at the A].

Take a small % off the table to de-risk yourself financially (rent, food, transportation, etc)
Existing investors will often offer to purchase your secondaries.

This way it keeps your cap table clean and gives your investor slightly more allocation.

Look over your ROFR/Co-sale agreements and chat with your co-founders and/or investors.
If you're selling stock to an existing or new investor during a financing, a "discount" is usually applied.

Make sure you negotiate the discount on the Preferred share price and not Common.

5-20% is considered normal.
Class FF Preferred stock:

FF Preferred Stock is essentially common stock with a twist that allows it to be converted to preferred stock.

If you’re currently incorporating, talk to your counsel about this.

This will save you time & energy when selling secondaries.
Tax Benefits:

Secondary transactions usually result in a big tax event (short/long term cap gains, etc).

Reach out to a CPA that specializes in this.

If you're in the middle of a secondary sale, DM me and I'll be happy to connect you with mine.
QSBS:

When selling qualified stock, you can exclude gains of up to $10 million in federal (and sometimes state) tax.

A few requirements to qualify:
• C Corporation
• Total gross assets are < $50 million at time of incorporation
• Have held onto the stock for at least 5 years
State income tax:

FL, NV, TX, WA, and others don't impose an income tax.

Depending on your transaction size, this can be a sizable amount of savings.

But don't move solely for the purpose of saving on taxes.

Live where you enjoy waking up each morning.
Roth / Self-directed IRA:

Contribute the maximum amount annually ($6-7k).

The gains from this account will be tax free when you retire.

Self-directed IRAs are useful as they give you more flexibility in choosing your investments.
Opportunity Zones:

This is a tax incentive to encourage those with capital gains to invest in low-income communities.
There are 3 benefits...

(1) Investment held for 5 yrs → 10% tax reduction; 7 years → 15%

(2) Tax on reinvested cap gains in an OZ fund held for 10 years is permanently forgiven

(3) Reinvested cap gains are deferred until the OZ fund is disposed or Dec 31, 2026
Hiring a CPA:

Reach out to your immediate network & ask who they use.

Interview a ton of people.

I *highly* recommend hiring someone who has direct experience in handling founder/employee liquidity (vs a generalist CPA).

It'll save you money & headaches in the future.
Hiring a Financial Advisor:

Lean on your network and investors for intros.

Don't be afraid to fire your advisor if they aren't producing results.

Fees can have a wide range based on your total AUM.

~1% is typical, but fees add up overtime.
Diversify:

"Concentration is how you get rich, diversification is how you stay rich"

Invest in asset classes based on your risk level, but don't invest in a million different things:

• Commodity futures
• Crypto lending
• Collectibles
• Real Estate
• Volatility
• Lending
Tools I use:

• Kubera: Portfolio tracker
• Interactive Brokers: Brokerage Acct / Margin line
• Robinhood: Stocks & Crypto portfolio
• Notion: Deal Memos
• AngelList: SPV, Fund, and Angel Investing
• Reddit: /r/fatfire for others stories
Tools I've heard great things about, but do not currently use:

• Personal Capital
• Compound
• Wealthfront
• M1 Finance
If you have questions or want to talk through a transaction you're exploring, feel free to DM me.

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Interact with smart people here on Twitter who have different world-views than you do.

And let them change your mind on something.

Here are the 30 people you should follow (along with my favorite tweet from each)👇👇

Twitter can be terrible if you follow negative people.

It can also be more valuable than a college degree if you follow (and network with) the right people.

You get to look right into their brain and read a daily narrative of HOW they think.

Ok lets go:

#1: @ShaanVP

You know he's all about venture capital based entrepreneurship. I'm about small (non-sexy) business. We disagree on a lot of stuff.

But he's done it and he's won. Bonus follow: @theSamParr (@myfirstmilpod podcast


#2: @fortworthchris

He is where I want to be in 15 years. Has built a massive real estate private equity firm from the ground up. Super grounded with what the way he does business and his podcast @theFORTpodcast is top


#3: @Julian

I'm a scattered thinker and procrastinator.

Julian is a master of clear thinking and simple but effective writing. A world class example of content marketing and
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How to Get Rich (without getting lucky):

Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.

Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.

Ignore people playing status games. They gain status by attacking people playing wealth creation games.

You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.
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THE TRUTH BEHIND WHY ONLY 2% OF PEOPLE SUCCEED AND 98% OF PEOPLE FAIL

(Plus a 30 minute exercise to get you into the top 2%)

//Thread//

Quick PSA: If you get value from this thread, please share some Knowledge Karma and retweet the first tweet 👆

Thank you.

Now let's upgrade your life..

I'll start by addressing the elephant in the room.

This is not another thread about "positive thinking" and us ing affirmations to get what you want.

You will need to take action for this to work.

If you are willing to do that

Read on 👇

Psychological Fact #1 : Reality = What you experience in your mind.

Reality is not objective.

This is why a man with a million dollars can say he's "depressed"

While a man with nothing in his pocket can say he's "happy"

and they can both be right at the same time.

A plastic surgeon noticed a pattern in his patients.

Even though a patient underwent transformative surgery and OBJECTIVELY looked more beautiful

Many came out of surgery and still saw an ugly person in the mirror.

How is this possible?

It all boils down to self belief.
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Julie Zhuo
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@joulee
Do you struggle with "office politics," like when Colleague got a promotion because they seem to have the same hobbies as the boss?

Do you have no idea how to play the game?
Do you recoil at the very word?

Then this thread is for you 👇

First, what exactly is "office politics?"

The definition I'll go with is that it's the actions people take to advance the things they care about in the workplace.

These can be:

1) The company hitting its goals
2) The success of one's projects and initiatives
3) A promotion
4) A plum assignment or leadership role
4) A change in workplace culture, values or process
5) The advancement of a colleague / group of people
6) Personal reputation

If you read this and think, "hmm, this list sounds boring and not at all bad," I agree with you!

Office politics has a negative connotation but is simply another manifestation of humans being complicated and having multiple, sometimes conflicting desires.

Our workplace desires feel more more high-stakes b/c:

1) there is clear hierarchy + power dynamic (ceos, managers, etc)

2) how we perform at work impacts our self-esteem, identity, and ability to sustain ourselves

3) we spend 1/3+ of our waking hours in our workplace
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@Anshulspiritual
MEANING, EXPLANATION & INTERPRETATION OF YOUR DREAMS, ALSO ITS EFFECTS IN COMING DAYS

Sigmund Freud had explained the interpretation of dreams in the last century, but our scriptures explained this thousands of years back. What is the significance and meaning of our dreams.


These are explained in Kanv shakha of our scriptures.
Dreams in the first quarter(पहर) of the day give result in one year, if the dreams are in the second quarter(प्रहर) the results are in eight months, for third the dreams are fulfilled in three months,

the fourth one takes one fortnight, the dreams of dawn take ten days, morning dreams after you awaken after dream are fulfilled forthright.

If you dream during your tense and worrisome period those are never realized. People with Negative traits never get their dreams fulfilled.

Also your dreams will never be realized after you get up from a dream and then go to sleep again. Never narrate your dreams to others.

You will gain wealth if you see the following things in your dream- cow,elephant, horse, palace, climbing mountains or trees,

eating and crying or injured.

You will attain more land if you see someone
singing with veena in his hands.

You will attain amrit if you see yourself entering a red sea or entering into narak.
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An interesting set of games that I've been vaguely interested in since I was a kid, after seeing one at a friend's house and never being able to find it again, was the BATTLES IN A DISTANT DESERT/BATTLES ON DISTANT PLANETS series.


These are turn-based wargames for windows 3.x, sharing the same engine.
Battles in a Distant Desert is from 1992, and is based on the first Iraq war (Desert Storm)


and Battles on Distant Planets is from 1991, and takes place in SPACE!
I'm pretty sure this is the one I played as a kid.


They've got 3 options to play with:
* Player vs. Player
* Player vs. Computer
* Computer vs. Computer

So it's a 0-2 player game!


They also did a DOS strategy game called "STARDATE 2140.2: GALACTIC CONQUEST" in 1990, but it seems to be lost.
All the games share an experimental AI system based on neural networks.
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दधीचि ऋषि को मनाही थी कि वह अश्विनी कुमारों को किसी भी अवस्था में ब्रह्मविद्या का उपदेश नहीं दें। ये आदेश देवराज इन्द्र का था।वह नहीं चाहते थे कि उनके सिंहासन को प्रत्यक्ष या परोक्ष रुप से कोई भी खतरा हो।मगर जब अश्विनी कुमारों ने सहृदय प्रार्थना की तो महर्षि सहर्ष मान गए।


और उन्होनें ब्रह्मविद्या का ज्ञान अश्विनि कुमारों को दे दिया। गुप्तचरों के माध्यम से जब खबर इन्द्रदेव तक पहुंची तो वे क्रोध में खड़ग ले कर गए और महर्षि दधीचि का सर धड़ से अलग कर दिया।मगर अश्विनी कुमार भी कहां चुप बैठने वाले थे।उन्होने तुरंत एक अश्व का सिर महर्षि के धड़ पे...


...प्रत्यारोपित कर उन्हें जीवित रख लिया।उस दिन के पश्चात महर्षि दधीचि अश्वशिरा भी कहलाए जाने लगे।अब आगे सुनिये की किस प्रकार महर्षि दधीचि का सर काटने वाले इन्द्र कैसे अपनी रक्षा हेतु उनके आगे गिड़गिड़ाए ।

एक बार देवराज इन्द्र अपनी सभा में बैठे थे, तो उन्हे खुद पर अभिमान हो आया।


वे सोचने लगे कि हम तीनों लोकों के स्वामी हैं। ब्राह्मण हमें यज्ञ में आहुति देते हैं और हमारी उपासना करते हैं। फिर हम सामान्य ब्राह्मण बृहस्पति से क्यों डरते हैं ?उनके आने पर क्यों खड़े हो जाते हैं?वे तो हमारी जीविका से पलते हैं। देवर्षि बृहस्पति देवताओं के गुरु थे।

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